Upcoming ASX IPOs: SOCO Corp, Taiton Resources

A summary of companies scheduled to list on the ASX this week.

Note: Listings dates and raise amounts are subject to change. Market cap is indicative and assumes the IPO meets the full raise amount.

SOCO Corporation

SOCO is a fast-growing technology services consultancy, supporting digital transformation and modern workplace outcomes for clients using cloud technologies such as Dynamics 365, Office 365 and Azure. The company's target markets include federal government, local and state government and large corporates.

In FY22, revenue was up 71% to $13.4m and profits after tax rose 42.1% to $1.8m.

For FY23, the company forecasts revenues to rise 37.7% to $18.5m but profits after tax to fall -20.2% to $1.4m. Though, this includes a little over $1.5m in IPO expenses and public company-related costs.

SOCO plans to allocate $3.3m of the raise (66%) to growth via organic and inorganic strategies, including potential acquisitions. The prospectus noted an 'acquisition story' behind the "deep pool of small IT services companies across Australia ... that have hit a growth-ceiling."

Link to prospectus

Taiton Resources

Taiton is a junior gold and polymetallic metals (cobalt, nickel, copper and manganese) explorer with tenements in both Western Australia and South Australia. The company's main projects include:

• Lake Barlee Project (gold) in Western Australia

• Highway Project (zircon and other metals) in South Australia

• Challenger West Project (gold) in South Australia

The Highway Project is arguably the most advanced project of the three. Historical exploration found 'broadly distributed and highly anomalous' molybdenum, silver, lead and zinc.

More broadly speaking, the projects are relatively early stage, so near term activities will include the compilation and assessment of historical data, surface geophysical and geochemical surveys.

Link to prospectus